The German company is planning to build a production facility in Nis, Serbia, which when complete will employ 2’500 people.
After the signing of the contract, Prime Minister Aleksandar Vucic, stated that the Serbian government has so far allocated EUR 31 million in subsidies for Leoni, according to an update on the Serbian government website.
The foundation stone for the construction of plant will be set up in December, while the factory is scheduled to start operating in August next year.
In the update, Vucic points out that an agreement was made with Leoni, stating that it would employ at least 2’200 people, but Vucic believes that 2’500 people will be employed by the end of 2018.
The construction of the new manufacturing facility in Nis is valued at EUR 22 million.
